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Lithium Energi (LEXI) Huge Lithium Land Holdings In Argentina

Date: Wednesday, August 23, 2017 4:54 PM EST

Peter Epstein, CFA, MBA

Lithium Energi Exploration Inc. (TSX-V: LEXI) controls 100% (no royalties, debt, work commitments or further share issuance due to vendors) of a very large land position– 128,367 hectares (“ha“) (317,202 acres) in and around the Antofalla salar in northwestern Argentina.  The Antofalla salar straddles the provinces of Catamarca & Salta.  All of LEXI’s property is in Catamarca on 39 mineral concessions in 3 project areas; Laguna Caro (8 contiguous concessions, 17,759 ha), Antofalla North (13 semi-contiguous concessions, 41,496 ha) & Antofalla South (18 semi-contiguous concessions, 69,112 ha).

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Antofalla is one of the largest basins in the region, over 130 km long and 5 to 20 km wide.  Less than 8 km northeast of LEXI’s Laguna Caro, FMC Corp. (NYSE: FMC) operates its Fenix mine in Salar de Hombre Muerto – Argentina’s largest lithium extraction operation.

Argentina’s Antofalla Salar, Large, Deep, Untapped….

In 3 separate programs from 2008-11, 56 test wells were drilled by private Argentinean group Bolland Minera, SA.  Well bore logs (porosity, neutron density, etc.), permeability, hydraulic gradient, core sample chemistry, and gravimetric studies were analyzed.  Substantial values for lithium (“Li“) and potassium (“k“) were observed from surface to a depth of > 500 meters.  The average Li and k values were approx. 350 mg/L and 6,400 mg/L, respectively.

Perhaps more important than the exploration grades was the indicative scale of the deposit as reported by the Institute of Mineral Resources for the National University of La Plata In Buenos Aires, Argentina (“INREMI”), which published the report in conjunction with Bolland Minera’s drilling programs: 2.22 Million tonnes (Mt) Li (equal to 11.8 Mt of Lithium Carbonate Equiv. “LCE) – and that projection is based on drilling only ~25% of the property in the basin.

The report prepared for Bolland Minera also stated that,

“Permeability and transmissibility testing revealed that the subsurface, sedimentary basin at Antofalla is very porous with high permeability, denoting excellent flow in the underground aquifers, as the principal mechanism for re-charging the basin.”

In my opinion, this means there’s a decent chance (but by no means a certainty) that key elements of brine chemistry found in one part of the basin are likely to be similar to those found in other parts of the basin, i.e. there’s good continuity in the Salar.

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